Swiss National Bank Boosts Position in Praxair, Inc. (PX)
Swiss National Bank boosted its stake in shares of Praxair, Inc. (NYSE:PX) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,170,567 shares of the basic materials company’s stock after purchasing an additional 5,700 shares during the period. Swiss National Bank’s holdings in Praxair were worth $181,063,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec grew its position in Praxair by 1.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock valued at $683,156,000 after buying an additional 77,300 shares during the period. Egerton Capital UK LLP grew its position in Praxair by 24.0% during the third quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock valued at $473,016,000 after buying an additional 655,456 shares during the period. Capital International Investors grew its position in Praxair by 9.6% during the third quarter. Capital International Investors now owns 2,981,701 shares of the basic materials company’s stock valued at $416,663,000 after buying an additional 262,050 shares during the period. Jensen Investment Management Inc. grew its position in Praxair by 0.6% during the fourth quarter. Jensen Investment Management Inc. now owns 2,501,583 shares of the basic materials company’s stock valued at $386,945,000 after buying an additional 15,176 shares during the period. Finally, CI Global Investments Inc. grew its position in Praxair by 0.8% during the fourth quarter. CI Global Investments Inc. now owns 1,993,569 shares of the basic materials company’s stock valued at $308,365,000 after buying an additional 16,699 shares during the period. Institutional investors own 85.60% of the company’s stock.
PX has been the subject of several research reports. UBS Group increased their price target on shares of Praxair from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Citigroup upgraded shares of Praxair from a “neutral” rating to a “buy” rating and increased their price target for the company from $137.00 to $168.00 in a research report on Monday, October 30th. Deutsche Bank upgraded shares of Praxair from a “hold” rating to a “buy” rating and increased their target price for the stock from $155.00 to $175.00 in a research report on Tuesday, December 19th. Finally, Argus upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Praxair currently has a consensus rating of “Buy” and a consensus price target of $163.47.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from Praxair’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, March 6th. Praxair’s dividend payout ratio is presently 72.92%.
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Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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